Chief Adviser Dr Muhammad Yunus has called for an investigation into properties linked to Tulip Siddiq and her family, suggesting that they may be connected to illicit wealth associated with Sheikh Hasina's regime.
According to media reports, multiple properties in London are tied to offshore businesses and individuals named in the Panama Papers.
In a recent interview with British newspaper The Sunday Times, Chief Adviser Dr Muhammad Yunus emphasized the necessity of thoroughly investigating properties connected to Tulip Siddiq.
He said that if these assets were obtained through unlawful means, they should be returned to the people of Bangladesh.
"It's about plain robbery," he said, accusing the former regime of embezzling funds through corrupt practices, which have had long-lasting consequences for the nation.
The properties in question were purchased by individuals close to Sheikh Hasina, who was ousted on August 5, 2024.
Tulip Siddiq’s family, including the British MP for Hampstead & Highgate and the UK’s anti-corruption minister, is linked to five properties in London acquired with the aid of offshore entities.
These properties are not under formal investigation at this point, but Yunus has urged the Bangladesh Anti-Corruption Commission (ACC) to look into them as part of its ongoing inquiries into corruption under Sheikh Hasina’s government.
According to the Sunday Times report, one of these properties is a house in Hampstead bought by an offshore company named in the Panama Papers.
This company has ties to two Bangladeshi businessmen affiliated with the Awami League, the political party led by Sheikh Hasina.
Tulip Siddiq, who has previously criticized the use of offshore trusts to avoid financial transparency, now faces increased scrutiny over her family’s dealings.
Yunus expressed disbelief over the situation, pointing out the irony of Tulip Siddiq, the anti-corruption minister in the UK, being linked to these controversial properties.
"She becomes the minister for anti-corruption and defends herself [over the London properties]," Yunus said.
"Maybe you didn't realise it, but now you realise it. You say: 'Sorry, I didn't know it [at] that time, I seek forgiveness from the people that I did this and I resign.' She's not saying that. She's defending herself."
While Yunus did not directly call for Siddiq’s resignation, he emphasized that her defense of the properties raised serious ethical concerns.
This controversy unfolds amid broader allegations of corruption surrounding Sheikh Hasina’s government.
Hasina, who was Bangladesh’s prime minister until last year, has been accused of crimes against humanity, enforced disappearances, and widespread corruption.
One of the most controversial deals associated with her government was a nuclear energy agreement with Russia, which is now under investigation by the ACC.
Tulip Siddiq has denied any involvement in that deal or other potentially corrupt ventures.
While Tulip has denied any illegal activity, stating she has done nothing wrong, the Bangladesh Anti-Corruption Commission (ACC) is already investigating larger corruption matters, including the alleged misappropriation of billions of dollars under Sheikh Hasina’s administration.
When asked if Tulip Siddiq’s properties should be investigated by the ACC, Yunus responded "absolutely." He added that the commission should examine the "whole thing."
He also expressed that, if possible, the properties purchased by Awami League affiliates should be returned.
"That's the intention of the interim government. How to bring them back. Because it's about people's money. And when I say people it's not about the billion-dollar people you talk about, [it's] common people," he said.
Tulip Siddiq’s position has been further challenged following a new report revealing that Dhaka’s financial intelligence unit (BFIU) had ordered banks in Bangladesh to provide transaction details for all accounts associated with her.
This new information could complicate her standing in the scandal, especially in light of the revelations about her family’s wealth tied to offshore entities.
A key figure in the property deals is Shayan Rahman, the son of Salman F Rahman, a billionaire former adviser to Sheikh Hasina.
Shayan Rahman used an offshore trust to purchase a £1.2 million property in Golders Green, London, which was occupied by Sheikh Rehana, Tulip Siddiq’s mother. Shayan Rahman is currently under investigation by the Bangladesh Criminal Investigation Department for allegedly laundering over $80 million out of Bangladesh, with funds believed to have been funnelled through Dubai.
Salman F Rahman was arrested while attempting to flee the country by boat, and his son’s whereabouts are still unknown.
Shayan Rahman is also linked to the British Asian Trust, an anti-poverty charity founded by Prince Charles. He reportedly donated more than £250,000 to the charity, and Prince Charles publicly praised him for his contributions during a gala dinner at Buckingham Palace.
However, Yunus has questioned Shayan Rahman’s charitable efforts, sarcastically commenting on his "generous philanthropy," and noting that many others involved in similar activities have yet to be publicly revealed, according to the Sunday Times.
The National Crime Agency (NCA), the UK’s equivalent to the FBI, has expressed a willingness to assist Bangladesh in recovering assets linked to illicit financial activities.
In October 2024, NCA officers visited Dhaka to meet with local law enforcement and indicated they could assist in freezing UK-based assets if requested.
Yunus expressed hope that the NCA and other international law enforcement agencies would continue their cooperation in tracking and recovering stolen assets.
"We need to bring them to justice," Yunus stated. He emphasized that ongoing investigations must hold those responsible for embezzling Bangladesh’s wealth accountable.
He also stressed that it is the common people of Bangladesh who are suffering from these actions, as their resources have been misused for personal gain.
Yunus has made it clear that recovering stolen assets, whether properties, bank accounts, or other forms of wealth, is a high priority for the interim government.
He promised to continue efforts to track down and recover stolen wealth, including investigating properties in the UK, the Caribbean, and other locations where illicit assets are believed to be hidden.
Meanwhile, Kemi Badenoch, the Conservative Party leader, has urged Prime Minister Keir Starmer to remove Tulip Siddiq from her role as Treasury Minister after she was named in an investigation related to allegations that her family embezzled up to £3.9 billion from infrastructure projects in Bangladesh.
In a post on X (formerly Twitter), Kemi Badenoch wrote: “This is an opportunity for Keir Starmer to sack Tulip Siddiq.”
She further said: “The prime minister (Starmer) appointed his friend as minister in charge of tackling corruption. Yet, she herself is accused of corruption.”
